Our Project Portfolio & Pipeline

Drilling

Drilling at TV Tower began in 2010 and consisted of an initial 4,100 metres, highlighted by 57.8 metres of 9.51 grams/tonne (“g/t”) gold (“Au”) within a broader interval of 136.2 metres of 4.28 g/t Au in drill hole KCD-02 at the KCD target.

By 2011, six additional targets were identified for detailed follow-up and more than 14,000 metres were drilled at KCD and two additional targets (Kayalı and Sarp). The discovery hole at the Kayalı target (KYD-01) returned 114.5 metres averaging 0.87 g/t Au in oxide.

Liberty Gold became operator of TV Tower as part of an earn-in agreement announced on June 21, 2012. As operator, Liberty Gold completed an aggressive exploration program in 2012 that consisted of 14,440 metres of diamond core drilling at KCD, property-wide airborne magnetic/EM geophysical surveys and ongoing surface mapping and geochemical sampling. Liberty Gold elected to focus drilling in 2012 on testing and expanding the known gold mineralization at the KCD target identified in previous drill campaigns.

A new zone of near-surface, oxidized gold mineralization up to 10 metres thick was discovered through four drill sites spaced approximately 130 metres apart, overlying the silver zone and north of the high-grade sulphide gold zone.

The Kayalı target is a high-sulphidation, shallow oxide gold target located approximately eight kilometres south of the KCD target. Discovery hole KYD-01 returned 0.87 g/t Auover 114.5 metres from a depth of 4.5 metres, including 2.85 g/t Au over 15.4 metres. The 2013 drill program comprised approximately 3,500 drilled metres.

The 20 km2 Karaayı target is contiguous with the Kayalı oxide gold target. The Karaayı tenure contains some of the strongest and most extensive gold-in-soil anomalies in the TV Tower district. Drilling at Karaayı by previous operators intersected near-surface, oxidized, high-sulphidation style gold mineralization, which is on strike to the west of the known oxidized gold mineralized zone at Kayalı.

Infill mapping, soil sampling, rock sampling and compiled drill data completed by Liberty Gold in 2013 indicate the presence of a potential shallow, bulk-tonnage oxide gold-mineralized system at least four kilometres long between the Kayalı and Karaayı targets. Further drilling revealed the presence of an extensive blanket of supergene copper mineralization underlying the oxide gold zones. In addition, drilling and surface work suggest that two or more copper-gold porphyry systems are present at K2, which includes the Kayalı and Karaayı targets in the southern portion of TV Tower.

Supergene copper drill highlights from K2 include:

1.29% Cu over 34.1 metres in KYD-39, including

o 1.90% Cu over 20.8 metres

0.35% Cu over 65.0 metres in KYD-43

0.35% Cu over 64.2 metres in KYD-34

Karaayı Cu-Au porphyry target highlights:

0.30% Cu and 0.13 g/t Au over 224.8 metres in KRD002, including

o 0.59% Cu and 0.18 g/t Au over 37.0 metres

0.16% Cu and 0.18 g/t Au over 154.4 metres in KRD004

0.19% Cu and 0.17 g/t Au over 257.2 metres in KAD02

Additional targets may also be tested. We have also initiated metallurgical testing at KCD, and have begun preliminary engineering and environmental studies on TV Tower.

Moira Smith, Ph.D., P.Geo., Chief Geologist, Liberty Gold, is the Company's designated Qualified Person within the meaning of NI 43-101 and has reviewed and validated that the information contained herein is accurate.